Q&A with J&R: Retailer stages a comeback

J&R Electronics Inc. was set to open a kiosk on the upper level of the World Trade Center. In fact, on the afternoon of Sept. 11, 2001, employees of the electronics and music store had a meeting scheduled to talk details. That meeting never happened.

After closing for about six and a half weeks after the terrorist attacks, J&R—which still sits on Park Row, just two blocks away from Ground Zero—was the first business in the area to re-open. Crain's spoke with J&R CEO Rachelle Friedman about the company's recovery.

Why did you decide to reopen so quickly?

We opened up prematurely because the mayor, then Rudolph Giuliani, told us that, as the anchor of lower Manhattan, he would appreciate if we could open as soon as we could. People would see we had confidence, so other stores would open.

Did it work out for you?

We did lose money. Perhaps we should have stayed closed a little longer, for that reason. But as far as the morale of employees and people in lower Manhattan and New York in general, it was the best thing we could have done.

What was business like during those early months?

Initially it was very good because there was a pent up feeling from our loyal customers. But after the first week or so, business did slow down because people were still scared to come to lower Manhattan.

Why did you stay in the area?

We were celebrating our 30th anniversary that year. Everything we had done was in lower Manhattan. We felt it was important for our neighbors, for our employees, for workers here and for New York in general to show that we were confident in the rebuilding of lower Manhattan.

How did J&R contribute to growth in the area?

We were the first ones to open up and show people that, yes it might be scary down here, but we have all the confidence in the world that the area will come back. In 2002, we opened a new camera store. It was unbelievable. We had newly elected Mayor Michael Bloomberg there; then-Gov. George Pitaki was also there. It was an exciting event because it was the first brand new store to open after Sept. 11 with new products and a new category. It was really a celebration.

Will J&R do anything to honor the tenth anniversary?

Not really. We don't like to exploit the day in any way. We are very sensitive about it—about 90% of the employees here now were here then. I have a picture on my desk showing what stores looked like right after the planes hit. It's a devastating picture. I have another picture from USA Today. It's a picture of people running away from the smoke, and it's on Park Row.

What's next for J&R?

We are looking to open another store, in a totally different category, in the next two months. It's something that no one will expect from us.

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